Maybe set a commitment goal for each person and back that into how big a property you can afford.

My concern though is that many people wouldn't be able to afford it (this is high-rent Deltona), and if you are a family who can afford it - wouldn't you just buy?

My concern though is that many people wouldn't be able to afford it (this is high-rent for Deltona), and if you are a family who can afford it - wouldn't you just buy?

If you can't afford to have 20k-30k in a true "rehab" budget for this, I think you'll find you are fronting a high CAPEX bill up front with no/little income coming in, and that can be a major strain if you aren't expecting it.

They seem affordable and provide good rental value.

Thank youYou should get pre-approved first to make sure you can even afford the home.

If you're looking at affordable housing, there are abundant c+ 2-4 out there at a reasonable price that you can start by house hacking.

We had a few limitations:- We wanted to get a rehab loan, instead of working with hard money or private lenders- We could only afford 20% down, so we were limited to a single family home (all the lenders I spoke with required 25% down for a multi-family rehab loan)- We only had about $40,000, so acquisition and rehab together could only total $200K, which is not easy in the Massachusetts market.- We wanted to be in or around Worcester because the City has been receiving a lot of investments in an attempt to revitalize the area.

They have approximately 30,000 they can afford to put into the building for an initial cosmetic fix and getting units rented. 

Purchase price: $68,750 Cash invested: $1,800 Purchased this as my first rental as a long-distance investor because I couldn't afford in my local market.